Beck Capital Management LLC Invests $2.12 Million in Salesforce, Inc. (NYSE:CRM)

Beck Capital Management LLC bought a new position in shares of Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,352 shares of the CRM provider’s stock, valued at approximately $2,124,000.

Several other hedge funds have also recently bought and sold shares of the business. Bernard Wealth Management Corp. acquired a new position in shares of Salesforce during the 4th quarter valued at $25,000. Arlington Trust Co LLC lifted its stake in shares of Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new stake in shares of Salesforce in the fourth quarter worth about $30,000. Asset Planning Inc acquired a new stake in shares of Salesforce in the fourth quarter valued at about $31,000. Finally, Collier Financial purchased a new stake in shares of Salesforce during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of NYSE CRM opened at $243.10 on Wednesday. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average of $277.69 and a two-hundred day moving average of $308.98. The company has a market capitalization of $233.62 billion, a price-to-earnings ratio of 39.98, a PEG ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.69%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is presently 26.10%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CRM shares. Jefferies Financial Group decreased their price target on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a report on Monday, March 31st. Stephens started coverage on shares of Salesforce in a report on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 price target for the company. Macquarie reaffirmed a “neutral” rating and set a $320.00 price target on shares of Salesforce in a research note on Thursday, March 20th. DA Davidson reissued an “underperform” rating and issued a $200.00 price objective on shares of Salesforce in a research report on Monday. Finally, Guggenheim raised Salesforce from a “sell” rating to a “neutral” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty have assigned a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $357.49.

Insiders Place Their Bets

In related news, insider Parker Harris sold 652 shares of Salesforce stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $216,646.56. Following the transaction, the insider now owns 121,467 shares of the company’s stock, valued at approximately $40,361,054.76. This trade represents a 0.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider R David Schmaier sold 6,959 shares of the company’s stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the sale, the insider now directly owns 36,090 shares of the company’s stock, valued at $9,141,957.90. This represents a 16.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,654 shares of company stock worth $14,124,094. 3.20% of the stock is owned by insiders.

Salesforce Company Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.